The Euro is showing signs of a potential major trend reversal after completing a strong rally within an ascending channel.
🔎 Chart Analysis:
Price surged out of a long consolidation range and followed a parabolic curve.
The pair reached the upper boundary of the ascending channel and started stalling.
Early signs of a distribution phase are visible, hinting at possible downside momentum.
📉 Bearish Scenario In Play:
A break below 1.1600 could accelerate the sell-off.
Key support zone at 1.14526 — potential first reaction level.
If momentum continues, next major support rests at 1.12329.
Short-Term Outlook:
Watch for breakdown confirmation below the channel.
Risk management is key; consider short entries on bearish candle confirmation.
💬 What’s your view? Are the bears finally taking over EUR/USD? Drop your thoughts below! 👇
#EURUSD #Forex #TechnicalAnalysis #PriceAction
🔎 Chart Analysis:
Price surged out of a long consolidation range and followed a parabolic curve.
The pair reached the upper boundary of the ascending channel and started stalling.
Early signs of a distribution phase are visible, hinting at possible downside momentum.
📉 Bearish Scenario In Play:
A break below 1.1600 could accelerate the sell-off.
Key support zone at 1.14526 — potential first reaction level.
If momentum continues, next major support rests at 1.12329.
Short-Term Outlook:
Watch for breakdown confirmation below the channel.
Risk management is key; consider short entries on bearish candle confirmation.
💬 What’s your view? Are the bears finally taking over EUR/USD? Drop your thoughts below! 👇
#EURUSD #Forex #TechnicalAnalysis #PriceAction
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.